In the first quarter of this year, Inner Mongolia exported 10,000 tons of aluminum to ASEAN countries, an increase of 746.7 times year-on-year, setting a new high since the outbreak of the new crown pneumonia epidemic.
According to industry insiders, this also means that as the global economy continues to recover, global aluminum demand has rebounded, especially in ASEAN countries.
As an authoritative publishing agency, Manzhouli Customs released data on the 14th. In the first quarter, Inner Mongolia exported 11,000 tons of unwrought aluminum and aluminum products (aluminum products for short), an increase of 30.8 times year-on-year; the value was 210 million yuan (RMB). Among the main export markets, ASEAN countries accounted for 10,000 tons, an increase of 746.7 times year-on-year. This data also accounted for 94.6% of the total aluminum exports of the Inner Mongolia Autonomous Region during the same period.
Why was Inner Mongolia able to export 10,000 tons of aluminum to ASEAN in the first quarter?
According to the customs, China’s electrolytic aluminum production in the first quarter of 2021 reached 9.76 million tons, an increase of 8.8% year-on-year. In mid-March, China’s aluminum ingot inventory reached about 1.25 million tons, which was the peak of the accumulated inventory during the off-season during the Spring Festival. As a result, China’s aluminum export orders began to increase substantially.
Another argument given by the customs is that due to the tight overseas supply of primary aluminum, the current international aluminum price has exceeded US$2,033/ton, which has also accelerated the pace and rhythm of aluminum exports from Inner Mongolia.